Shares of three state-run oil marketing companies rose by 0.23% to 1.33% at 14:52 IST on BSE after crude oil futures declined in the international commodity market.
BPCL (up 0.23%), HPCL (up 0.74%) and Indian Oil Corporation (up 1.33%), edged higher.
The S&P BSE Sensex was up 79.44 points, or 0.22% at 36,349.51.
Lower crude oil prices could reduce under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
In the global commodities markets, Brent for February 2018 settlement was down $2.16 at $57.45 a barrel. The contract had fallen 67 cents, or 1.11% to settle at $59.61 a barrel during the previous trading session.
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